? The United States of America avoids a fiscal stand-off ?
Emerging economies brace for net capital outflows for the first time in many years ?
Third quarter growth in China beats expectations
Global issues
Oil prices expected to remain low in the medium term
In the past week, oil and mineral prices rallied after China cut interest rates for the sixth time in a year. Speculation over the impact of China's monetary stimulus on output growth animated commodity markets, but the price gain was rather short-lived. Given that China remains the main commodity importer at the global level, the market expectations regarding the Chinese growth prospects has had significant impact on commodity…
World Economic Situation and Prospects Monthly Briefing No. 84
14 September 2015 Summary
Volatility soars in global financial markets
Concerns over China's economy are mounting
Stronger-than-expected GDP growth in the U.S., while economic growth slows in many developing countries
Global issues
Financial market volatility heightened sharply
Volatility in global financial markets heightened sharply in August, amid rising concerns about a further slowdown in some major emerging economies, including Brazil, China and the Russian Federation, and the uncertainties about the forthcoming increase in the policy interest rate in the United States of America.
International commodities, particularly crude oil, have seen large price swings over the past month,…
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May 2015 Summary
U.S. dollar softens against a wide range of currencies
East Asian exports weaker than expected during the first quarter
Labour market in Brazil starts to deteriorate, after several years of falling unemployment rates
Global issues
U.S. dollar exchange rate softens against many currencies
After about one year of continuous strong appreciation, the U.S. dollar has experienced a noticeable depreciation since mid-March 2015. Over the span of the seven weeks until the end of April, it depreciated by about 3 per cent.1 Out of a basket of 48 currencies, the U.S. dollar depreciated against 34 currencies…
World Economic Situation and Prospects Monthly Briefing No. 78
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March 2015 Summary
??Central banks in developed and emerging economies ease monetary policy
Agreement reached to extend Greece's bailout programme through June
Inflation pressures increasing in CIS economies, while easing in many other emerging economies
Global issues
Central banks in developed and emerging economies continue to ease monetary policy
Against the backdrop of subdued growth and downward pressure on inflation, many central banks across the globe have further eased monetary policy in recent months. While the United States Federal Reserve (Fed) is projected to start the process of normalizing…
World Economic Situation and Prospects Monthly Briefing No. 76
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February 2015 Summary
??Major central bank policy swings in Switzerland and the euro area
Euro area deflation sets in
Oil exporters face increased fiscal challenges, while lower commodity prices ease inflationary pressures
Global issues
The Swiss National Bank abandons its minimum exchange rate on the euro against the franc
The Swiss National Bank (SNB) abandoned its minimum boundary on the exchange rate of the euro to the Swiss franc (CHF), which was introduced in 2011 and set at 1.20 CHF to the euro. At that time, the euro crisis caused major capital flows away from the euro into the franc. To limit the…
World Economic Situation and Prospects: Monthly Briefing, No. 75
Global economic growth is forecast to increase marginally over the next two years at 3.1 per cent in 2015 and 3.3 per cent in 2016, compared with an estimated growth of 2.6 per cent for 2014. An expected US interest rate increase, remaining euro area fragility, a further slowdown in developing economies and geopolitical conflicts pose major concerns for the global economic outlook.
Executive Summary:
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Chapter III
Chapter IV
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World Economic Situation and Prospects 2015
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January 2015 Summary
??Moderate global economic expansion in 2014, as post-crisis adjustments continued
In 2015, developed economies to be led by a stronger U.S. economy, while downside risks remain significant in Japan and the euro area
Developing economies to be led by East Asia, while several large emerging economies face internal and external challenges
Global issues
Global recovery hampered by unfinished post-crisis adjustments
The global economy continued to expand during 2014 at a moderate and uneven pace, as the prolonged recovery process from the global financial crisis was still saddled with unfinished…
World Economic Situation and Prospects: Monthly Briefing, No. 74
Moderate global economic expansion in 2014, as post-crisis adjustments continued
In 2015, developed economies to be led by a stronger U.S. economy, while downside risks remain significant in Japan and the euro area
Developing economies to be led by East Asia, while several large emerging economies face internal and external challenges
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Global issues
Global recovery hampered by unfinished post-crisis adjustments
The global economy continued to expand during 2014 at a moderate and uneven pace, as the prolonged recovery process from the global financial crisis was still saddled with unfinished post-crisis adjustments. The global recovery was also hampered by some…
World Economic Situation and Prospects: January 2015 Briefing, No. 74
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December 2014 Summary
?? Further appreciation of the U.S. dollar
Japan registers technical recession during the third quarter
Lower inflation rates in many countries across the world as oil prices decline
Global issues
Assessment of the potential impact of heightened geopolitical tensions around Ukraine
The World Economic Situation and Prospects 2015 presents a very subdued outlook for the euro area, where the underlying growth momentum has decelerated to the point that an exogenous event could lead to a return to recession. One of the downside risks identified is an escalation of the geopolitical crisis around…
World Economic Situation and Prospects: Monthly Briefing, No. 73
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